Oppenheimer upgraded Spotify (SPOT) to Outperform from Perform with an $800 price target The firm cites the stock’s 14% pullback from the all-time high and the company’s “many tailwinds ahead” for the upgrade. Spotify has the largest monthly active user runway in the internet space and its free tier monetization and conversion benefits from Apple App Store changes are catalysts, the analyst tells investors in a research note. Opco sees a significant opportunity for the company to monetize its advertising users.
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